2012 Q3 Form 10-K Financial Statement

#000119312512404883 Filed on September 26, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3 2011
Revenue $888.2M $770.5M $2.756B
YoY Change 15.28% 16.07% 21.04%
Cost Of Revenue $775.3M $670.1M $2.422B
YoY Change 15.7% 17.77% 23.0%
Gross Profit $112.9M $100.4M $333.1M
YoY Change 12.45% 5.91% 8.48%
Gross Profit Margin 12.71% 13.03% 12.09%
Selling, General & Admin $47.50M $44.80M $180.9M
YoY Change 6.03% 15.76% 22.69%
% of Gross Profit 42.07% 44.62% 54.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.100M $6.400M $24.01M
YoY Change -4.69% 88.24% 81.49%
% of Gross Profit 5.4% 6.37% 7.21%
Operating Expenses $50.20M $48.00M $180.9M
YoY Change 4.58% 24.35% 22.69%
Operating Profit $62.70M $52.40M $152.3M
YoY Change 19.66% -6.76% -4.64%
Interest Expense $600.0K $900.0K $212.0K
YoY Change -33.33% -25.0% -46.33%
% of Operating Profit 0.96% 1.72% 0.14%
Other Income/Expense, Net
YoY Change
Pretax Income $63.30M $54.10M $132.3M
YoY Change 17.01% -13.72% -22.79%
Income Tax $19.00M $17.30M $46.35M
% Of Pretax Income 30.02% 31.98% 35.03%
Net Earnings $44.40M $36.90M $106.3M
YoY Change 20.33% -9.11% -3.44%
Net Earnings / Revenue 5.0% 4.79% 3.86%
Basic Earnings Per Share $1.92
Diluted Earnings Per Share $837.7K $660.1K $1.92
COMMON SHARES
Basic Shares Outstanding 52.92M shares 55.27M shares
Diluted Shares Outstanding 55.37M shares

Balance Sheet

Concept 2012 Q3 2011 Q3 2011
SHORT-TERM ASSETS
Cash & Short-Term Investments $218.6M $215.4M $215.4M
YoY Change 1.49% -13.08% -13.08%
Cash & Equivalents $218.6M $215.4M $181.0M
Short-Term Investments $34.40M
Other Short-Term Assets $47.10M $46.80M $46.80M
YoY Change 0.64% 7.34% 7.34%
Inventory $186.1M $184.5M $184.5M
Prepaid Expenses
Receivables $221.7M $162.2M $162.2M
Other Receivables $11.40M $14.90M $14.90M
Total Short-Term Assets $684.9M $623.8M $623.8M
YoY Change 9.8% 3.65% 3.66%
LONG-TERM ASSETS
Property, Plant & Equipment $164.4M $168.2M $168.2M
YoY Change -2.27% 20.84% 20.83%
Goodwill $245.2M $244.5M
YoY Change 0.31% 61.99%
Intangibles
YoY Change
Long-Term Investments $1.739M $2.741M $4.800M
YoY Change -36.56% -64.86% -38.46%
Other Assets $393.8M $403.3M $8.800M
YoY Change -2.37% 2625.32% -40.54%
Total Long-Term Assets $558.2M $574.3M $574.3M
YoY Change -2.81% 58.53% 58.52%
TOTAL ASSETS
Total Short-Term Assets $684.9M $623.8M $623.8M
Total Long-Term Assets $558.2M $574.3M $574.3M
Total Assets $1.243B $1.198B $1.198B
YoY Change 3.75% 24.27% 24.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $143.1M $119.5M $119.5M
YoY Change 19.79% 10.03% 10.04%
Accrued Expenses $63.40M $63.20M $63.20M
YoY Change 0.32% 14.91% 14.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $311.1M $278.6M $278.6M
YoY Change 11.66% 8.49% 8.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.69M $15.32M $58.30M
YoY Change 2.43% -69.37% 16.6%
Total Long-Term Liabilities $81.14M $83.20M $58.30M
YoY Change -2.48% 66.4% 16.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $311.1M $278.6M $278.6M
Total Long-Term Liabilities $81.14M $83.20M $58.30M
Total Liabilities $392.2M $361.8M $361.8M
YoY Change 8.41% 17.93% 17.93%
SHAREHOLDERS EQUITY
Retained Earnings $918.6M $829.1M
YoY Change 10.78%
Common Stock $198.4M $196.3M
YoY Change 1.08%
Preferred Stock
YoY Change
Treasury Stock (at cost) $266.1M $189.1M
YoY Change 40.72%
Treasury Stock Shares 8.857M shares 5.857M shares
Shareholders Equity $850.8M $836.3M $836.3M
YoY Change
Total Liabilities & Shareholders Equity $1.243B $1.198B $1.198B
YoY Change 3.75% 24.27% 24.27%

Cashflow Statement

Concept 2012 Q3 2011 Q3 2011
OPERATING ACTIVITIES
Net Income $44.40M $36.90M $106.3M
YoY Change 20.33% -9.11% -3.44%
Depreciation, Depletion And Amortization $6.100M $6.400M $24.01M
YoY Change -4.69% 88.24% 81.49%
Cash From Operating Activities $81.50M $164.6M $114.8M
YoY Change -50.49% 61.53% 14.06%
INVESTING ACTIVITIES
Capital Expenditures -$3.800M -$4.900M $33.75M
YoY Change -22.45% 19.51% 174.45%
Acquisitions $99.56M
YoY Change 403.96%
Other Investing Activities $400.0K $2.100M -$92.60M
YoY Change -80.95% -97.12% -197.17%
Cash From Investing Activities -$3.400M -$2.900M -$126.4M
YoY Change 17.24% -104.21% -252.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.047M
YoY Change -99.09%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.500M -5.600M -20.77M
YoY Change 33.93% 55.56% -86.84%
NET CHANGE
Cash From Operating Activities 81.50M 164.6M 114.8M
Cash From Investing Activities -3.400M -2.900M -126.4M
Cash From Financing Activities -7.500M -5.600M -20.77M
Net Change In Cash 70.60M 156.1M -32.32M
YoY Change -54.77% -6.64% -225.17%
FREE CASH FLOW
Cash From Operating Activities $81.50M $164.6M $114.8M
Capital Expenditures -$3.800M -$4.900M $33.75M
Free Cash Flow $85.30M $169.5M $81.05M
YoY Change -49.68% 59.91% -8.26%

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19963000
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29.24
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589000
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10439000
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10430000
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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28.82
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219863000
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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35.18
CY2012Q3 us-gaap Accounts Receivable Net Current
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CY2012Q3 us-gaap Assets
Assets
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CY2012Q3 us-gaap Equity Method Investments
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1739000
CY2012Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
145000
CY2012Q3 us-gaap Common Stock Value
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6178000
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CY2012Q3 us-gaap Commitments And Contingencies
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CY2012Q3 us-gaap Standard Product Warranty Accrual
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73280000
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
6.33 Year
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LiabilitiesNoncurrent
81137000
CY2012Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
15150000
CY2012Q3 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
DeferredTaxLiabilitiesInvestmentInNoncontrolledAffiliates
433000
CY2012Q3 us-gaap Machinery And Equipment Gross
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84863000
CY2012Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2012Q3 us-gaap Assets Current
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684886000
CY2012Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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1399000
CY2012Q3 us-gaap Goodwill
Goodwill
245209000
CY2012Q3 us-gaap Product Warranty Accrual Classified Current
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73280000
CY2012Q3 us-gaap Taxes Payable Current
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16129000
CY2012Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
22399000
CY2012Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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13265000
CY2012Q3 us-gaap Other Liabilities Noncurrent
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15687000
CY2012Q3 us-gaap Land
Land
23704000
CY2012Q3 us-gaap Preferred Stock Shares Outstanding
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CY2012Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
16570000
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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29.25
CY2012Q3 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
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CY2012Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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22454000
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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966000
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
218642000
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period Weighted Average Grant Date Fair Value
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0
CY2012Q3 us-gaap Common Stock Par Or Stated Value Per Share
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1726000
CY2012Q3 us-gaap Loss Contingency Pending Claims Number
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527000
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CY2012Q3 us-gaap Inventory Valuation Reserves
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1866000
CY2012Q3 us-gaap Deferred Tax Liabilities Noncurrent
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CY2012Q3 us-gaap Property Plant And Equipment Gross
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CY2012Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1163000
CY2012Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
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17252000
CY2012Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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111041000
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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600000 shares
CY2012Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
104446000
CY2012Q3 tho Number Of Reportable Segments
NumberOfReportableSegments
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CY2012Q3 tho Long Term Portion Of Unrecognized Tax Benefits Including Interest And Penalties
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44516000
CY2012Q3 tho Product Property Liability And Related Liabilities
ProductPropertyLiabilityAndRelatedLiabilities
11044000
CY2012Q3 tho Excess Liability Insurance
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50000000
CY2012Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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4482000
CY2012Q3 us-gaap Notes And Loans Receivable Net Current
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CY2012Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Benefits
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CY2012Q3 us-gaap Liabilities And Stockholders Equity
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CY2012Q3 us-gaap Preferred Stock Value
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CY2012Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
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CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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29.46
CY2012Q3 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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35524000
CY2012Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
37000
CY2012Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
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CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2012Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2012Q3 us-gaap Equity Method Investment Ownership Percentage
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CY2012Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2012Q3 us-gaap Property Plant And Equipment Net
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CY2012Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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1739000
CY2012Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2012Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
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CY2012Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2012Q3 us-gaap Accounts Payable Current
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143139000
CY2012Q3 us-gaap Goodwill Gross
GoodwillGross
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CY2012Q3 us-gaap Employee Related Liabilities Current
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41295000
CY2012Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
47165000
CY2012Q3 tho Vehicle Insurance Reserves
VehicleInsuranceReserves
7500000
CY2012Q3 tho Inventory Chassis
InventoryChassis
39044000
CY2012Q3 tho Repurchase And Guarantee Reserve Balances
RepurchaseAndGuaranteeReserveBalances
3150000
CY2012Q3 tho Chassis Delivered To Customers In Days
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90 days
CY2012Q3 tho Chassis Consigned Inventory
ChassisConsignedInventory
21507000
CY2012Q3 tho Total Additional Chassis Provided By Customers
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9762000
CY2012Q3 tho Deferred Tax Assets Capital Loss Carryforward
DeferredTaxAssetsCapitalLossCarryforward
143000
CY2012Q3 tho Unrecognized Tax Benefits Current
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2649000
CY2012Q3 tho Payments Received On Sale Of Products Within Days
PaymentsReceivedOnSaleOfProductsWithinDays
15 Day
CY2012Q3 tho Deferred Tax Assets Tax Deferred Expense Accrued Incentives
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2369000
CY2012Q3 tho Deferred Tax Assets Liabilities Unrecognized Tax Benefits Current
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963000
CY2012Q3 tho Deferred Tax Assets Liabilities Unrecognized Tax Benefits Non Current
DeferredTaxAssetsLiabilitiesUnrecognizedTaxBenefitsNonCurrent
14436000
CY2012Q3 tho Stock Awards Restriction Expiration Period Maximum
StockAwardsRestrictionExpirationPeriodMaximum
6 Year
CY2012Q3 tho Deferred Tax Assets Tax Deferred Expense Accrued Product Warranties
DeferredTaxAssetsTaxDeferredExpenseAccruedProductWarranties
26690000
CY2012Q3 tho Insurance Reserves For Products Liability And Personal Injury Matters
InsuranceReservesForProductsLiabilityAndPersonalInjuryMatters
5000000
CY2012Q3 tho Gross Amount Of Unrecognized Tax Benefits Excluding Interest And Penalties Pertaining To Uncertain Tax Positions
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33900000
CY2012Q3 tho Deferred Tax Liabilities Deferred Compensation
DeferredTaxLiabilitiesDeferredCompensation
5069000
CY2012Q3 tho Stock Awards Restriction Expiration Period Minimum
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5 Year
CY2011Q3 us-gaap Stock Repurchase Program Authorized Amount
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20000000
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term
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CY2010 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
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CY2010 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2011Q3 tho Agreement Entry Date
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us-gaap Goodwill Impairment Loss
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CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.46 pure
CY2011Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.031 pure
CY2011Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term
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6 Year
CY2011Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.009 pure
CY2011Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.45 pure
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817000
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115420000
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760000
CY2010 us-gaap Stock Issued During Period Shares Stock Options Exercised
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0.022 pure
CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term
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CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.009 pure
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CY2010 us-gaap Insurance Recoveries
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0.45 pure
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.018 pure
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term
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CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.018 pure
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.46 pure
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323000
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CY2009Q4 us-gaap Stock Repurchased During Period Shares
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2012-01-18
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0.018 pure
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115850000
CY2010 us-gaap Net Cash Provided By Used In Investing Activities
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82977000
CY2010 us-gaap Investment Income Interest
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5515000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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3000
CY2010 us-gaap Increase Decrease In Accounts Receivable
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49184000
CY2010 us-gaap Income Taxes Paid
IncomeTaxesPaid
54206000
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CY2010 us-gaap Standard Product Warranty Accrual Warranties Issued
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57314000
CY2010 us-gaap Income Tax Reconciliation Tax Credits
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1069000
CY2010 us-gaap Gain On Business Interruption Insurance Recovery
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7593000
CY2010 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax
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1080000
CY2010 us-gaap Net Cash Provided By Used In Operating Activities
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100652000
CY2010 us-gaap Comprehensive Income Net Of Tax
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108670000
CY2010 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1969471000
CY2010 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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13326000
CY2010 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
11000
CY2010 us-gaap Business Exit Costs
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3640000
CY2010 us-gaap Finite Lived Intangible Assets Amortization Expense
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510000
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807000
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2139000
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CY2010 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2010 us-gaap Business Acquisitions Pro Forma Revenue
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2.08
CY2010 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.07
CY2010 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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CY2010 us-gaap Current Foreign Tax Expense Benefit
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CY2010 us-gaap Depreciation
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CY2010 us-gaap Income Tax Reconciliation Deductions Qualified Production Activities
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3745000
CY2010 us-gaap Current State And Local Tax Expense Benefit
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CY2010 us-gaap Gain Loss On Sale Of Property Plant Equipment
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42005000
CY2010 us-gaap Interest Expense
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4095000
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500000
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14.69
CY2010 us-gaap Net Income Loss
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CY2010 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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1351000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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CY2010 us-gaap Depreciation Depletion And Amortization
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CY2010 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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PaymentsToAcquirePropertyPlantAndEquipment
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CY2010 us-gaap Earnings Per Share Basic
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CY2010 us-gaap Income Tax Reconciliation State And Local Income Taxes
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510000
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CY2011 us-gaap Net Income Loss
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CY2010 us-gaap Selling General And Administrative Expense
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CY2010 us-gaap Advertising Expense
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231000
CY2010 us-gaap Standard Product Warranty Accrual Payments
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47564000
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CY2012 dei Document Fiscal Period Focus
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CY2012 dei Entity Voluntary Filers
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CY2012 dei Trading Symbol
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THO
CY2012 dei Entity Registrant Name
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THOR INDUSTRIES INC
CY2012 dei Entity Current Reporting Status
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CY2012 dei Document Type
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10-K
CY2012 dei Document Period End Date
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2012-07-31
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CY2012 us-gaap Nature Of Operations
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<div> <p style="margin-top:12px;margin-bottom:0px" align="justify"> <font style="font-family:Arial Narrow" size="2">Nature of Operations &#x2014; Thor Industries, Inc. was founded in 1980 and, together with its subsidiaries (the &#x201C;Company&#x201D;), manufactures a wide range of recreation vehicles and small and mid-size buses at various manufacturing facilities across the United States. These products are sold to independent dealers and municipalities primarily throughout the United States and Canada. Unless the context otherwise requires or indicates, all references to &#x201C;Thor&#x201D;, the &#x201C;Company&#x201D;, &#x201C;we&#x201D;, &#x201C;our&#x201D; and &#x201C;us&#x201D; refer to Thor Industries, Inc. and its subsidiaries.</font></p> <p style="margin-top:12px;margin-bottom:0px" align="justify"> <font style="font-family:Arial Narrow" size="2">The Company&#x2019;s core business activities are comprised of three distinct operations, which include the design, manufacture and sale of motorized recreation vehicles, towable recreation vehicles and buses. Accordingly, the Company has presented segmented financial information for these three segments at Note 3 of the Notes to the Consolidated Financial Statements.</font></p> </div>
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2012 us-gaap Use Of Estimates
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<div> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px" align="justify"> <font style="FONT-FAMILY: Arial Narrow" size="2"><i>Estimates</i> &#x2013; The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Key estimates include reserves for inventory, incurred but not reported medical claims, warranty claims, recalls, workers&#x2019; compensation claims, vehicle repurchases, uncertain tax positions, product and non-product litigation and assumptions made in asset impairment assessments. The Company bases its estimates on historical experience and on various other assumptions believed to be reasonable under the circumstances. The Company believes that such estimates are made using consistent and appropriate methods. Actual results could differ from these estimates.</font></p> </div>
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3084660000
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EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
224000
CY2012 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
13265000
CY2012 us-gaap Future Amortization Expense Year Three
FutureAmortizationExpenseYearThree
10318000
CY2012 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
999000
CY2012 us-gaap Advertising Expense
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7863000
CY2012 us-gaap Proceeds From Issuance Of Common Stock
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1441000
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6000
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
169154000
CY2012 us-gaap Standard Product Warranty Accrual Payments
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67265000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
58952000
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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63242000
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1585000
CY2012 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
198000
CY2012 tho Losses Due To Repurchase
LossesDueToRepurchase
360000
CY2012 tho Maximum Percentage Of Tax Benefits Realized Upon Ultimate Settlement
MaximumPercentageOfTaxBenefitsRealizedUponUltimateSettlement
0.50 pure
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3207000
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
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53845697 shares
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1181000
CY2012 us-gaap Additions To Noncurrent Assets
AdditionsToNoncurrentAssets
10442000
CY2012 us-gaap Capital Expenditures Incurred But Not Yet Paid
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851000
CY2012 us-gaap Future Amortization Expense After Year Five
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64152000
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7000
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0 shares
CY2012 us-gaap Proceeds From Sale And Collection Of Notes Receivable
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500000
CY2012 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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170000
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-107780000
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1619000
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-7062000
CY2012 us-gaap Future Amortization Expense Year Four
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9262000
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53899848 shares
CY2012 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px" align="justify"> <font style="FONT-FAMILY: Arial Narrow" size="2">Our principal commercial commitments under repurchase agreements and dealer inventory financing guarantees at July&#xA0;31, 2012 and 2011 are summarized in the following chart:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="98%"> <tr> <td width="53%"></td> <td valign="bottom" width="1%"></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center"> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center"> <font style="FONT-FAMILY: Arial Narrow" size="2"><b>Total&#xA0;Amount&#xA0;Committed</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom" align="center"><font style="FONT-FAMILY: Arial Narrow" size="2"><b>Term of</b></font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Arial Narrow" size="2"><b>July&#xA0;31,&#xA0;2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Arial Narrow" size="2"><b>July&#xA0;31,&#xA0;2011</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: Arial Narrow" size="2"><b>Commitments</b></font></td> </tr> <tr> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" nowrap="nowrap" align="center"> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center"> <font style="FONT-FAMILY: Arial Narrow" size="2"><b>Commitment</b></font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="2"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="2"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Arial Narrow" size="2">Guarantee on dealer financing</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial Narrow" size="2">&#xA0;&#xA0;$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial Narrow" size="2">900&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial Narrow" size="2">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial Narrow" size="2">&#xA0;&#xA0;&#xA0;&#xA0;$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial Narrow" size="2">1,684&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial Narrow" size="2">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial Narrow" size="2">Various</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Arial Narrow" size="2">Standby repurchase obligation on dealer financing</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial Narrow" size="2">&#xA0;&#xA0;$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial Narrow" size="2">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;861,738&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial Narrow" size="2">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial Narrow" size="2">&#xA0;&#xA0;&#xA0;&#xA0;$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Arial Narrow" size="2">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;791,933&#xA0;&#xA0;&#xA0;&#xA0;</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Arial Narrow" size="2">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Arial Narrow" size="2">Up&#xA0;to&#xA0;eighteen&#xA0;months</font></td> </tr> </table> </div>
CY2012 tho Product Warranty Term
ProductWarrantyTerm
P1Y
CY2012 tho Share Based Compensation Arrangement By Share Based Payment Award Expiration Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationTerm
P10Y
CY2012 tho Period Of Longer Warranty For Structural Components
PeriodOfLongerWarrantyForStructuralComponents
Up to 5 Years
CY2012 tho Cost Of Units Repurchased
CostOfUnitsRepurchased
2881000
CY2012 tho Realization Of Units Resold
RealizationOfUnitsResold
-2521000
CY2012 tho Stock Restriction Period From Transaction Date Aligned With Employment With Company
StockRestrictionPeriodFromTransactionDateAlignedWithEmploymentWithCompany
P4Y
CY2012 tho Net Deferred Income Tax Expense Benefit
NetDeferredIncomeTaxExpenseBenefit
-3442000
CY2011 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
17448000
CY2011 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
267000
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
257000
CY2011 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
99562000
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-20766000
CY2011 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
-1124000
CY2011 us-gaap Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
-2424000
CY2011 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
55373641 shares
CY2011 tho Non Cash Gain On Involuntary Conversion Of Assets
NonCashGainOnInvoluntaryConversionOfAssets
2190000
CY2011 tho Cost Of Units Repurchased
CostOfUnitsRepurchased
5876000
CY2011 tho Realization Of Units Resold
RealizationOfUnitsResold
-5023000
CY2011 tho Losses Due To Repurchase
LossesDueToRepurchase
853000
CY2011 tho Clean Up And Other Costs
CleanUpAndOtherCosts
855000
CY2011 tho Net Deferred Income Tax Expense Benefit
NetDeferredIncomeTaxExpenseBenefit
-2839000
CY2011 tho Proceeds From Insurance Settlement
ProceedsFromInsuranceSettlement
10203000
CY2011 tho Allowance For Doubtful Accounts Receivable Acquisition
AllowanceForDoubtfulAccountsReceivableAcquisition
240000
CY2011 tho Defined Benefit Plan Employer Match And Administrative Fees
DefinedBenefitPlanEmployerMatchAndAdministrativeFees
293000
CY2011 tho Fair Value Of Nonqualified Deferred Compensation Plan
FairValueOfNonqualifiedDeferredCompensationPlan
8715000
CY2011 tho Current Tax Expense Effect Of Other Temporary Items
CurrentTaxExpenseEffectOfOtherTemporaryItems
1989000
CY2011 tho Allowance For Doubtful Accounts Provision Charged To Expense
AllowanceForDoubtfulAccountsProvisionChargedToExpense
3000
CY2011 tho Current State And Local Tax Expenses Increase Decrease Due To Pre Tax Income
CurrentStateAndLocalTaxExpensesIncreaseDecreaseDueToPreTaxIncome
-657000
CY2011 tho Gain On Involuntary Conversion
GainOnInvoluntaryConversion
9417000
CY2011 tho Allowance For Doubtful Accounts Write Offs Against Payments And Recoveries
AllowanceForDoubtfulAccountsWriteOffsAgainstPaymentsAndRecoveries
116000
CY2011 tho Income Tax Reconciliation Other Permanent Items
IncomeTaxReconciliationOtherPermanentItems
1382000
CY2011 tho Current State And Local Tax Expense Benefit Period Increase Decrease
CurrentStateAndLocalTaxExpenseBenefitPeriodIncreaseDecrease
-9087000
CY2011 tho Insurance Proceeds Recognized In Current Year Previously Deferred
InsuranceProceedsRecognizedInCurrentYearPreviouslyDeferred
234000
CY2011 tho Increase Decrease In Income Tax Expense Due To Increase Decrease In Unrecognized Tax Benefits
IncreaseDecreaseInIncomeTaxExpenseDueToIncreaseDecreaseInUnrecognizedTaxBenefits
-2329000
CY2011 tho Increase Decrease In Various Temporary Items
IncreaseDecreaseInVariousTemporaryItems
1207000
CY2011 tho Insurance Proceeds Which Included For Business Interruption
InsuranceProceedsWhichIncludedForBusinessInterruption
6315000
CY2011 tho Current Federal Tax Expense Benefit Increase Decrease In Income Taxes Due To Decrease In Pre Tax Income
CurrentFederalTaxExpenseBenefitIncreaseDecreaseInIncomeTaxesDueToDecreaseInPreTaxIncome
-6568000
CY2011 tho Increase Decrease In Liability For Uncertain Tax Positions
IncreaseDecreaseInLiabilityForUncertainTaxPositions
-1426000
CY2011 tho Increase Decrease In Current Federal Tax Expense Due To Domestic Manufacturing
IncreaseDecreaseInCurrentFederalTaxExpenseDueToDomesticManufacturing
-1491000
CY2011 tho Current Federal Tax Expense Benefit Period Increase Decrease
CurrentFederalTaxExpenseBenefitPeriodIncreaseDecrease
-6519000
CY2011 tho Cost Incurred To Reconstruct Facility
CostIncurredToReconstructFacility
5460000
CY2011 tho Current Tax Expense Effect Of Accrued Product Warranties
CurrentTaxExpenseEffectOfAccruedProductWarranties
1698000
CY2011 tho Increase Decrease In Current State Tax Expense Due To Decrease In Unrecognized Tax Benefits
IncreaseDecreaseInCurrentStateTaxExpenseDueToDecreaseInUnrecognizedTaxBenefits
-3731000
CY2011 tho Property And Equipment Destroyed
PropertyAndEquipmentDestroyed
165000
CY2011 tho Income Tax Expense Permanent Tax Differences
IncomeTaxExpensePermanentTaxDifferences
1382000
CY2011 tho Income Before Income Taxes Period Increase Decrease
IncomeBeforeIncomeTaxesPeriodIncreaseDecrease
-18766000
CY2011 tho State Tax Expense Net Of Federal Benefits
StateTaxExpenseNetOfFederalBenefits
956000
CY2011 tho Reduction Of Excess Current Tax Payable And Deferred Tax Liabilities
ReductionOfExcessCurrentTaxPayableAndDeferredTaxLiabilities
645000
CY2011 tho Current State Tax Expense Increase Decrease In Various Temporary Items
CurrentStateTaxExpenseIncreaseDecreaseInVariousTemporaryItems
232000
CY2012 tho Increase Decrease In Net Deferred Tax Assets
IncreaseDecreaseInNetDeferredTaxAssets
3234000
CY2012 tho Current Tax Expense Effect Of Other Temporary Items
CurrentTaxExpenseEffectOfOtherTemporaryItems
-270000
CY2012 tho Allowance For Doubtful Accounts Provision Charged To Expense
AllowanceForDoubtfulAccountsProvisionChargedToExpense
32000
CY2012 tho Current State And Local Tax Expenses Increase Decrease Due To Pre Tax Income
CurrentStateAndLocalTaxExpensesIncreaseDecreaseDueToPreTaxIncome
617000
CY2012 tho Allowance For Doubtful Accounts Write Offs Against Payments And Recoveries
AllowanceForDoubtfulAccountsWriteOffsAgainstPaymentsAndRecoveries
54000
CY2012 tho Increase Decrease In Interest
IncreaseDecreaseInInterest
900000
CY2012 tho Income Tax Reconciliation Other Permanent Items
IncomeTaxReconciliationOtherPermanentItems
345000
CY2012 tho Current State And Local Tax Expense Benefit Period Increase Decrease
CurrentStateAndLocalTaxExpenseBenefitPeriodIncreaseDecrease
4408000
CY2012 tho Current Federal Tax Expense Benefit Increase Decrease In Income Taxes Due To Increase In Pre Tax Income
CurrentFederalTaxExpenseBenefitIncreaseDecreaseInIncomeTaxesDueToIncreaseInPreTaxIncome
9822000
CY2012 tho Increase Decrease In Income Tax Expense Due To Increase Decrease In Unrecognized Tax Benefits
IncreaseDecreaseInIncomeTaxExpenseDueToIncreaseDecreaseInUnrecognizedTaxBenefits
4244000
CY2012 tho Increase Decrease In Various Temporary Items
IncreaseDecreaseInVariousTemporaryItems
-1586000
CY2012 tho Increase Decrease In Liability For Uncertain Tax Positions
IncreaseDecreaseInLiabilityForUncertainTaxPositions
2540000
CY2012 tho Increase Decrease In Deferred Tax Asset Due To Increase In Product Warranty Reserves
IncreaseDecreaseInDeferredTaxAssetDueToIncreaseInProductWarrantyReserves
2247000
CY2012 tho Increase Decrease In Current Federal Tax Expense Due To Domestic Manufacturing
IncreaseDecreaseInCurrentFederalTaxExpenseDueToDomesticManufacturing
-409000
CY2012 tho Current Federal Tax Expense Benefit Period Increase Decrease
CurrentFederalTaxExpenseBenefitPeriodIncreaseDecrease
8793000
CY2012 tho Current Tax Expense Effect Of Accrued Product Warranties
CurrentTaxExpenseEffectOfAccruedProductWarranties
2371000
CY2012 tho Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Expiration In Percentage
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionExpirationInPercentage
0.50 pure
CY2012 tho Income Tax Reconciliation Executive Compensation Limitation
IncomeTaxReconciliationExecutiveCompensationLimitation
38000
CY2012 tho Income Tax Expense Permanent Tax Differences
IncomeTaxExpensePermanentTaxDifferences
345000
CY2012 tho Increase Decrease In Penalties
IncreaseDecreaseInPenalties
40000
CY2012 tho Income Before Income Taxes Period Increase Decrease
IncomeBeforeIncomeTaxesPeriodIncreaseDecrease
28064000
CY2012 tho State Tax Expense Net Of Federal Benefits
StateTaxExpenseNetOfFederalBenefits
1054000
CY2012 tho Reduction Of Excess Current Tax Payable And Deferred Tax Liabilities
ReductionOfExcessCurrentTaxPayableAndDeferredTaxLiabilities
642000
CY2012 tho Increase Decrease In Deferred Tax Assets Due To Increase Decrease In Intangibles Liability
IncreaseDecreaseInDeferredTaxAssetsDueToIncreaseDecreaseInIntangiblesLiability
-1989000
CY2012 tho Increase Decrease In Deferred Tax Assets Offset By Increase Decrease In Accrued Expenses
IncreaseDecreaseInDeferredTaxAssetsOffsetByIncreaseDecreaseInAccruedExpenses
-1539000
CY2012 tho Recognized Tax Expense Benefits Income Tax Penalties And Interest Expense
RecognizedTaxExpenseBenefitsIncomeTaxPenaltiesAndInterestExpense
503000
us-gaap Insurance Recoveries
InsuranceRecoveries
28516000
tho Insurance Deductible
InsuranceDeductible
5000000
tho Clean Up And Other Costs
CleanUpAndOtherCosts
1458000
tho Gain On Involuntary Conversion
GainOnInvoluntaryConversion
17010000
tho Cost Incurred To Reconstruct Facility
CostIncurredToReconstructFacility
6943000
tho Property And Equipment Destroyed
PropertyAndEquipmentDestroyed
743000
tho Work In Process And Raw Material Destroyed
WorkInProcessAndRawMaterialDestroyed
4305000
CY2010Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2011Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0

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